Kent Lake Capital LLC Raises Holdings in ModivCare Inc. (NASDAQ:MODV)

Kent Lake Capital LLC boosted its stake in shares of ModivCare Inc. (NASDAQ:MODVFree Report) by 66.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. ModivCare makes up 1.5% of Kent Lake Capital LLC’s investment portfolio, making the stock its 27th biggest holding. Kent Lake Capital LLC’s holdings in ModivCare were worth $3,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. lifted its position in ModivCare by 54.7% during the 3rd quarter. Federated Hermes Inc. now owns 359 shares of the company’s stock worth $36,000 after acquiring an additional 127 shares during the period. Tower Research Capital LLC TRC increased its stake in ModivCare by 394.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 425 shares of the company’s stock valued at $36,000 after purchasing an additional 339 shares in the last quarter. State of Wyoming increased its stake in ModivCare by 200.5% in the 2nd quarter. State of Wyoming now owns 619 shares of the company’s stock valued at $28,000 after purchasing an additional 413 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in ModivCare in the 1st quarter valued at approximately $78,000. Finally, Signaturefd LLC increased its stake in ModivCare by 388.6% in the 3rd quarter. Signaturefd LLC now owns 816 shares of the company’s stock valued at $26,000 after purchasing an additional 649 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MODV shares. Jefferies Financial Group downgraded ModivCare from a “buy” rating to a “hold” rating and dropped their price objective for the company from $60.00 to $39.00 in a research note on Friday, February 23rd. Barrington Research downgraded ModivCare from an “outperform” rating to a “market perform” rating in a research report on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded ModivCare from a “buy” rating to a “hold” rating and dropped their price target for the stock from $60.00 to $40.00 in a research report on Friday, February 23rd.

Get Our Latest Research Report on ModivCare

ModivCare Trading Up 11.8 %

ModivCare stock traded up $3.34 during midday trading on Monday, reaching $31.65. The stock had a trading volume of 359,533 shares, compared to its average volume of 216,050. ModivCare Inc. has a twelve month low of $24.00 and a twelve month high of $99.12. The stock has a market capitalization of $449.43 million, a PE ratio of -2.15, a price-to-earnings-growth ratio of 0.76 and a beta of 0.45. The company has a debt-to-equity ratio of 6.30, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day simple moving average is $40.94 and its 200 day simple moving average is $38.53.

ModivCare Profile

(Free Report)

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other.

See Also

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Institutional Ownership by Quarter for ModivCare (NASDAQ:MODV)

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